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UPDATE 1-CEO of South Africa's Tsogo Sun to step down in June
May 30, 2017 / 4:02 PM / 6 months ago

UPDATE 1-CEO of South Africa's Tsogo Sun to step down in June

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JOHANNESBURG, May 30 (Reuters) - South African hotel and casino operator Tsogo Sun said on Tuesday its chief executive Marcel von Aulock would resign at the end of June after six years at the helm.

Von Aulock, 42, took over as CEO at Tsogo Sun in September 2011 and had been with the company since 1999.

Tsogo, Africa’s biggest hotels and gaming group, which also has interests in Nigeria, Kenya and Mozanbique, did not give reasons why von Aulock resigned.

Von Aulock’s resignation is effective from June 1, 2017 and he will be replaced by insider Jacques Booysen.

Under von Aulock, a chartered accountant, Tsogo Sun bought a controlling stake in a hospitality-focused Real Estate Investment Trust, Hospitality Property Fund to compete with property rivals and create value for its hotel business. The company also owns theme park Gold Reef City and entertainment complex Montecasino in Johannesburg.

Booysen, long considered von Aulock’s natural successor, will take over at a time when the company is looking to buy more hotel assets in the United Kingdom through International Hotel Properties Limited, a European hotel investment of the firm in which it holds a 25 percent stake. (Reporting by Nqobile Dludla; Editing by Tiisetso Motsoeneng and Jane Merriman)

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